The Manitowoc Company, Inc. (NYSE:MTW) Given Consensus Rating of “Reduce” by Brokerages

The Manitowoc Company, Inc. (NYSE:MTW) has been given an average rating of “Reduce” by the five analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $16.83.

Several analysts have recently issued reports on MTW shares. Wells Fargo & Company decreased their price target on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. decreased their target price on Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Barclays decreased their target price on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday. Finally, StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd.

Manitowoc Stock Performance

Manitowoc stock traded up $0.02 during mid-day trading on Monday, hitting $12.90. 16,814 shares of the company’s stock traded hands, compared to its average volume of 252,766. Manitowoc has a one year low of $12.20 and a one year high of $19.81. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average price of $13.66 and a 200 day moving average price of $14.59. The company has a market cap of $457.69 million, a PE ratio of 11.80 and a beta of 2.04.

Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). The company had revenue of $595.80 million for the quarter, compared to analyst estimates of $583.90 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. On average, equities analysts forecast that Manitowoc will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AJOVista LLC bought a new position in Manitowoc during the fourth quarter worth about $69,000. Allspring Global Investments Holdings LLC lifted its holdings in Manitowoc by 19.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 823 shares in the last quarter. Arizona State Retirement System bought a new position in Manitowoc during the third quarter worth about $151,000. Spire Wealth Management bought a new position in Manitowoc during the third quarter worth about $174,000. Finally, Commonwealth Equity Services LLC bought a new position in Manitowoc during the third quarter worth about $178,000. 78.66% of the stock is owned by institutional investors and hedge funds.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.